Comfy Foot Shoe Company makes loafers. During the most recent year, Comfy Foot incurred total manufacturing costs of $24,000,000 of this ar Beginning balances for the year were Direct Materials, $500,000, Work-in-Process Inventory, $600,000, and Finished Goods Inventory, $600,000 Inventory. 51 200.000, and Finished Goods Inventory, $1,320,000 Read the tuitements Requirement 1. Analyze the inventory accounts to determine the cost of direct materials purchased during the year Direct Materials Direct Materials Used Buginning Direct Materials Ending Direct Materials Purchases Requirement 2. Analyze the inventory accounts to determine the cost of goods manufactured for the year Work in Process Beginning Work in Process Inventory Direct Materials Used Direct Lotion Manctuning Overhead Type here to search o Comfy Foot Shoe Company makes loafers. During the most recent year, Comfy Foot incurred total manufacturing costs of $24,000,000. Of this am Beginning balances for the year were Direct Materials, $500,000, Work-in-Process Inventory. $600,000, and Finished Goods Inventory. $600,000 Inventory, $1.200.000, and Finished Goods Inventory, $1,320,000 Read the requirements COCO Requirement 1. Analyze the inentory accounts to determine the cost of direct materials purchased during the year Direct Materials Direct Materale Used Beginning Direct Materials Ending Direct Materials Purchases Requirement 2. Analyze the inventory accounts to determine the cost of goods manufactured for the year Work in Process Beginning Work in Process Inventory Direct Materials Used Duct Labor and storing Overhead Type here to search O - 2 ufacturing costs of $24,000,000. Of this amount, $2,300,000 was direct materials used and $16 800,000 was direct labor and Finished Goods Inventory, $600,000. At the end of the year, balances were Direct Materials, $700,000. Work-in-Process THE - uring the year ear. Comfy Foot Shoe Company makes loale Beginning balances for the year were Direct Materials, $500,000, Work-in-Process Inventory, $600,000, and Finished Goods Invent Inventory, $1,200,000, and Finished Goods Inventory, $1,320,000 Read the requirements Requirement 2. Analyze the inventory accounts to determine the cost of goods manufactured for the year Work-in-Process Beginning Work-in-Process Inventory Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For Ending Work-in-Process Inventory Cost of Goods Manufactured Requirement 3. Analyze the inventory accounts to determine the cost of goods sold for the year. Finished Goods Beginning balances for the year were Direct Materials, Inventory, $1,200,000, and Finished Goods Inventory. $1,320,000 Read the requirements Direct Labor Manufacturing Overhead Total Manufacturing Costs incurred during the Year Total Manufacturing Costs to Account For Ending Work-in-Process Inventory Cost of Goods Manufactured Requirement 3. Analyze the inventory accounts to determine the cost of goods sold for the year. Finished Goods Beginning Finished Goods Inventory Cost of Goods Manufactured Cost of Goods Available for Sale Ending Finished Goods Inventory Cost of Goods Sold